Gold got clobbered for days in a row, making its new short term lows nearing $1330 again… back to square one.

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Technical Analysis Session!

Mar 20, 2014: Fibonacci Retracements for 60 days price movements.

Previous Low = ~1240, Recent High= ~1390; Diff = 150

Defining 38.20% Retracement Level, that would fall at 1330 level which so happens to be where the price is now… price actually dipped shortly to 1320(3/19). Hmm… should I add up now?

Mar 24, 2014; Price settled lower touching the 1310 mark. Is that near 50% retracement already? I have an itchy feeling that it seems to be doing the final shake out prior to the next major upward move. Read somewhere about a “Golden Cross” manifesting already. Hmmm, it will be interesting to watch the unfolding turn of events….

I’ll just sit tight and enjoy the show 🙂

Mar 31, 2014: 1300/oz is history for now as the price revisited the 12## territory… ohh well.

Apr 11, 2014: From the previous weeks, Gold price was seen retesting the 3month lowest and almost painted an inverted H&S. Well, where is the price now? Back to 1320s level…

May 10, 2014: For the past weeks, price tip-toed on the 1300 band. Today it’s back to 1290s… i’ll take it as a good sign, coz I need to add up some on better bargain price. Not in a hurry yet though as budgeting is too tight.